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TransferWise is incredible. It was cheaper for me to take USD in my account, forex it to Yen, send the Yen to transferwise when paying a co-creator in USD. Send
by Danieru 6y ago
TransferWise is incredible. It was cheaper for me to take USD in my account, forex it to Yen, send the Yen to transferwise when paying a co-creator in USD. Sending a USD swift transfer would skip 2 forex transactions yet TransferWise is still cheaper.
- HeavenFox 6y agoI'm curious to learn why this is the case. Does your transfer involve non-US account? If both accounts are in the U.S. there are bank accounts that don't charge wire fee, or you can use Zelle / Venmo / FB Messenger / Square Cash and avoid paying altogether if the amount is small.
- Danieru 6y agoIndeed, transferwise is all about international transfers. For domestic sending the US has fedwire. Japan has furikomi. Banking systems have fine domestic systems, transferwise works by bridging those instant systems. By bridging they skip the interbank swift network.